## Principle = $15,500 Interest Rate = 8.75% Time = ? Years Simple Interest = $5425.00 Solve for the Time in Years

Question

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## Answers ( No )

We must find time by using the simple interest formula:

I = P x i x t

I is the interest

P is the total principal

i is the rate of interest per year

t is the total time in years

In this example, when we plug our known values in, our formula looks like this:

t =

t =

t = 4

So time (in years) would be 4 years.